Titan Machinery Bond (2019) Makes Third New YTD Low In 2 Weeks

 #bearish

Bond:
Titan Machinery (NASDAQ: TITN)
Convertible Bond 3.75%  Maturity:2019.
Closed Yesterday:  $81.13 w 8.73% yield.

Date of Offering : April 18,2012 

Amount of Debt: $150 million Convertible

http://www.cherrytree.com/news/releasearchive/titan_0412.htm

(more on investment banker Cherry Tree can be found here)

Stock: (Stock Research)
Titan Machinery (NASDAQ: TITN) closed yesterday at $13.50 on volume of 91,868 shares. The stock has closed below $14 for the sixth consecutive session.

Titan Machinery FY2014 annual report (10K) .

•  FY 2014 Net Income declined 79% from $42 million in FY 2013 to $8.8 million for FY 2014.
•  April 10th announced the closing of 7 construction stores and 1 agriculture location.